Most Americans have to pay a sales tax when they make purchases, unless you happen to live in one of the five states that do not require a sales tax. Those five states are Montana, Oregon, Alaska, Delaware and New Hampshire. The main advantage of these states with no sales tax are big savings on major purchases. You can create further benefits for yourself by launching an LLC business and registering your vehicles through your company in one of those five states.
Purchasing a luxury vehicle is part of enjoying a high income, but that doesn't mean you need to pay the highest price. One of the ways to save money that you can use for other goals is to start an LLC in Montana. You will save tens of thousands of dollars on a Bentley, Ferrari, Tesla or other luxury brands since Montana has no sales tax. Here are ways to maximize the experience of purchasing your dream car.
If you have been thinking about taking a road trip with your loved ones, you should consider purchasing a recreational vehicle and registering in Montana. In general, buying an RV is a financially significant decision for most individuals. Therefore, there are some factors that you should evaluate before the actual transaction. One of these aspects is the significant tax which is charged on motor homes and recreational vehicles in most states.
If you are planning on spending time traveling around the country and touring rodeos with your family or friends, you should think about getting a recreational vehicle or motor home. These types of automobiles are ideal for traveling in a group because of the total low costs, particularly in relation to accommodation. In addition, you will be able to visit numerous areas that would be difficult without the flexibility of owning a travel vehicle.
Are you thinking about acquiring a new Ferrari, Lamborghini or some other high-end car? If yes, you can easily buy your dream car with a recognized Montana LLC and avoid paying additional sales tax. Maybe you are wondering how this is possible. Well, according to MCA 61-3-311, all vehicles registered in Montana avoid sales tax; they are not subjected to personal property tax. In Montana, the registration fees are in lieu of any personal property tax. The most interesting part is that all LLC’s don’t have to purchase their vehicles in Montana so as to avoid paying the taxes. All LLC’s are viewed as residents of Montana hence they are exempted from taxation.
It can be about summer fun USA all year long while doing business in the great state of Montana. Montana is one of the few states besides Alaska, Oregon, Delaware and New Hampshire in the USA today without a general sales tax. The objective is to make it cheaper for people to purchase products. The state relies on income taxes to counter balance its budget to run its affairs. This means with an LLC in Montana you can save on your summer toy purchases all year long!
As a buyer of exotic cars and probably other types of moveable property, you can save thousands of dollars on vehicle registration and sales tax by using a Montana LLC. In setting up an LLC in Montana, you can save money on purchasing a car, RV, motorcycle, ATV, boat or airplane. The process for setting up an LLC is fast, affordable and will allow you do business from another state. Here's a more in-depth look at how an LLC can save you money.